If you’re like me, you’ve probably thought often about the financial goals you’d like to achieve. Perhaps you’ve always imagined yourself buying a house, or you’d really like to be able to pay for a wedding. Maybe, you’d like to retire early, so you can enjoy yourself before you’re too old to travel the way you’d like to.
Whatever your goals, the trick is to know how you’re going to go about making those goals a reality. Without a plan in place, it’s impossible to meet those goals- meaning that they’re really just dreams.
While it’s good to dream, I think that we all deserve to meet our goals. Here are a few ways I’m changing my finances and getting ready for an awesome 2020:
We all know that thanks to the power of compounding interest, the more money we put away in our retirement funds and savings accounts, and the younger we are, the better. While it would be nice to be able to divert thousands of dollars directly to these funds, in reality, even a few extra dollars a month can make a big difference.
Not sure where to find those few extra dollars? You can start by looking at your subscriptions and providers and deciding what you really need.
Personally, I’ve found that your wifi provider can be a great place to start. For example, you’re probably paying way too much for things like wifi, when you could really be browsing wifi broadband deals for a better choice.
There are plenty of great options, such as the Brilliant Broadband package which has unlimited downloads, zero set-up costs, free calls, and is only £18 per month. Now that’s a deal.
Choose your priorities
This idea of spending is almost too easy, but it’s something that I love. For instance, if you’re someone who loves to socialize, and you’re completely unwilling to stay home more than three or four times a week, then cutting this back will be unlikely to work long-term. Instead, consider what you can cut back. Maybe, since you’re never home, you can get a roommate, or switch to a smaller place in a slightly less expensive location.
Or maybe you’re like me and you work from home. In that case, it’s likely that you want to live somewhere that makes you feel comfortable and productive. For me, that means that I’m happy to spend a night watching Netflix once a week instead of spending $100+ to go out and party.
Get your friends on board
It’s funny how it often only takes one person to start talking about money goals and saving before the whole group is willing to do it together. One great way to improve your finances is to talk to your friends about why you’re doing it, and potentially even make a pact to do it together.
This makes socializing easier, since you can easily tell people when it’s just not in your budget for the week, and potentially plan something that won’t cost an arm and a leg.